11/10/2008 News For:
Variable Vs Fixed Rate Mortgages
Abbey increase cost of variable rate mortgages ABBEY yesterday announced an increase in the cost of their variable rate mortgages for new borrowers.
Mortgage lenders review rates Lloyds TSB today said it would pass on the 1.5% cut in interest rates to borrowers with loans linked to its standard variable rate SVR, but customers of other lenders have been warned their rates may not be cut. The bank said it would reduce its SVR from 6.5% to 5% with effect from December 1, in a move that will benefit borrowers with mortgages from both the bank and its lending arm ...
Alliance & Leicester cuts fixed rate mortgages Alliance & Leicester, a UK-based bank which is now part of the Santander Group, has announced that it is cutting all of its fixed rates deals for customers seeking up to 75% loan-to-value. Two- and five-year fixed rates are cut by 0.20% and three-year fixed rate deals are now 0.15% lower.
Available mortgages down by 10% The number of different mortgage deals available fell by 10% as lenders continued to pull rates following last week's interest rate cut.
Abbey passes on rate cut bulk Abbey has announced it is passing on the majority of last week's 1.5% interest rate cut to new variable rate mortgage customers. The group, one of the UK's biggest mortgage lenders, has relaunched its tracker products after withdrawing them last week.
Interest-free mortgages possibility Some homeowners could be enjoying an interest-free mortgage next year if interest rates continue to fall steeply, it was disclosed today. Cheltenham & Gloucester, which is part of Lloyds TSB, offered a two-year tracker mortgage of 1.01% below the Bank of England base rate in July and August 2007.
Rates may see no-interest mortgages Some homeowners could be enjoying an interest-free mortgage next year if interest rates continue to fall steeply, it has been disclosed. Cheltenham & Gloucester, which is part of Lloyds TSB, offered a two-year tracker mortgage of 1.01% below the Bank of England base rate in July and August 2007.
Answer Desk: Time to end oil tax breaks? Should the oil industry get to keep tax breaks intended to spur more production? And why can?t the government reset variable rate mortgages to the rate that homeowners can afford?
Consumers left dangling as lenders sever Bank rate link It used to be the case, as sure as night follows day, that when the Bank of England cut interest rates it would bring relief to mortgage borrowers and discomfort to savers. Generally, mortgage and savings rates would move in step with the Bank's base rate. But now the world has changed and with it the old linkage between Bank base rate and the actual cost of our mortgages, and pay rate on our ...
Rates on all mortgages fall across the board Rates on 30-year fixed-rate mortgages fell to 6.20 percent for the week, down sharply from 6.46 percent last week, Freddie Mac reported in its nationwide survey.
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